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Sonoco Products Company<\/a>, a global leader in high-value sustainable packaging, today announced the close of its acquisition of Eviosys, Europe\u2019s leading food cans<\/a>, ends and closures manufacturer, from KPS Capital Partners LP.<\/p>\n \u201cThe transaction advances Sonoco\u2019s portfolio transformation strategy to simplify and realign its portfolio and position the Company for long-term growth and value creation,\u201d Sonoco said in a statement Wednesday.\u00a0<\/p>\n Following the integration process, Eviosys will transition to the Sonoco brand over the coming months and will operate under Sonoco\u2019s Consumer Packaging segment.\u00a0<\/p>\n Sonoco announced its intent to acquire Eviosys on June 24, 2024. You can find Packaging Strategies<\/em>\u2019 original reporting on Sonoco\u2019s plans to acquire Eviosys here<\/a>.<\/p>\n Packaging Strategies <\/em>recently reported on Capstone Partners\u2019 November 2024 Packaging Industry Update<\/strong>, which noted that portfolio optimization is a driving factor behind M&A in the packaging sector. Sonoco\u2019s acquisition of Eviosys is a textbook example. Packaging Strategies<\/em>\u2019 reporting on the Capstone Partners analysis can be found here<\/a>.<\/p>\n Sonoco ranks among Packaging Strategies<\/em>‘ Top 25 Flexible Packaging Converters. You can check out the list here<\/a>.<\/p>\n<\/div>\n